Ficc Margin

FIXED INCOME CLEARING CORPORATION/ THE CLEARING COPORATION CROSS-MARGINING PARTICIPANT AGREEMENT (COMMON MEMBER) The undersigned ("Member") is a Government Securities Division netting member of Fixed Income Clearing Corporation ("FICC") and a clearing member of The Clearing Corporation ("TCC").

Description The proposed rule change for the most part eliminates the complex manual adjustments currently made by FICC's Operations Department with regard to the forward margin debit obligations and credit entitlements of repo broker members of the Government Securities Division ("GSD") of FICC. 3 When ...

Addition of an intraday margin calculation and collection cycle: GSD will be adding an intraday Clearing Fund calculation and mark-to-market of all positions to the existing End of Day (EOD) processes. 2 Currently, one of the components of the Clearing Fund is the Margin 1 FICC will not introduce FICC ...

Section 5(a) of each cross-margining agreement would be amended to state that FICC's residual margin amount would be calculated as specified in the agreement and would be adjusted, if necessary, to correct for differences between the methodology of calculating the residual margin amount as described in ...

All Intraday payments are in cash only. 2:45 PM: All Clearing Fund deficiencies and Original Margin calls are due. 3:15 PM: Funds Only Settlement (Variation Margin) is executed on behalf of FICC and NYPC. 3:45 PM: Funds payments due to members in a funds only credit from FICC. 5:00 PM: Futures and ...

After X has paid $5 forw ard margin to FICC and FICC has invested the $5 and marked the settlement price on X's purchase contract to $95, the contracts involving the Treasury, FICC, and X are Suppose that X now agrees to sell the security to dealer Y in a when-issued transaction at a price of $95.

FICC asserts that loss allocation (which would occur only if a member became insolvent and the mark-to-market amount and margin it provided and the monies available from these other loss sharing arrangements were not sufficient to cover liquidation losses) is a highly unlikely event.

All Intraday payments are in cash only. 2:45 PM: All Clearing Fund deficiencies and Original Margin calls are due. 3:15 PM: Funds Only Settlement (Variation Margin) is executed on behalf of FICC and NYPC. 3:45 PM: Funds payments due to members in a funds only credit from FICC. 5:00 PM: Futures and ...